| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 24, 2026 | 6/12 | 2 high, 3 medium, 2 low flags | 2 | 2 | Call sheet → |
| Q1'26 | April 23, 2026 | 10/12 | 5 low flags | 4 | 0 | Call sheet → |
| Q4'25 | January 30, 2026 | 8/12 | 1 medium, 5 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Delivered | NII to grow faster than balances NII up 11% vs balance growth of 9% |
| Q2'26 | Missed | Marketing flat to up slightly Now guiding +10% in H2, significant increase from original plan |
| Q2'26 | Pending | Card fee growth to accelerate through year Q2 slowed to 15.4% from 16%, but guiding acceleration in H2 |
| Q2'26 | Pending | Operating expenses mid-single digits growth Q2 at 6%, tracking to plan but full year not complete |
| Q2'26 | Missed | VCE ratio around 44% for full year Raised to 44-45% due to higher reward category spend |
| Q2'26 | Delivered | Generally stable credit metrics throughout 2026 Delinquencies declined, write-offs flat, both below 2019 levels |
| Q1'26 | Delivered | Credit metrics to remain generally stable with seasonal variation Delinquency flat, write-offs slightly down, both below 2019 levels |
| Q1'26 | Delivered | NII growth to continue outpacing balance growth 12% NII growth vs 7% balance growth maintained |
| Q1'26 | Exceeded | Marketing expenses up low single digits in 2026 Upgraded to mid-single digit growth based on Q1 performance |
| Q1'26 | Pending | VCE ratio around 44% for 2026 Q1 at 44.7%, trending toward target |
| Q1'26 | Pending | EPS between $17.30 and $17.90 for 2026 Q1 annualized run-rate above guidance midpoint but management investing upside |
| Q1'26 | Exceeded | Revenue growth of 9% to 10% for 2026 Delivered 11% in Q1, reaffirmed guidance suggesting reinvestment strategy |
| Q4'25 | Pending | Technology investments to drive efficiency 90% time reduction in some processes shown, but full ROI unclear |
| Q4'25 | Delivered | International momentum to continue 12% growth maintained, three of five top markets grew 18%+ |
| Q4'25 | Delivered | Credit metrics to remain stable Write-off rates stable around 2%, delinquencies flat throughout year |
| Q4'25 | Exceeded | Strong early engagement with platinum benefits 500K mirror card requests, 30% travel booking uptick exceeded expectations |
| Q4'25 | Delivered | VCE ratio step up in back half of year from platinum refresh VCE ratio hit 45% in Q4 vs 42% in Q3, exactly as guided |
| Q4'25 | Delivered | Card fee growth to moderate before inflection upward in 2026 Q4 moderated to 16% as expected, with high teens exit rate promised for 2026 |
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